I’ve been a penny pincher ever since I was a kid. I’d squirrel away my savings for months at a time. I’d come up with things I could sell to make extra money (although trying to sell rocks didn’t go so well!).
I know how to use coupons to save money, negotiate lower prices for things, and cut my utility bills. But, as much as I consider myself a savvy saver, I’m kind of lousy at investing. Sure, I am able to earn money with my investments (usually), but I kind of just operate on auto pilot.
I was reminded of this weakness when I recently read Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew Hallam. Hallam is a personal finance high school teacher at an American school in Singapore, and has built a million dollar investment portfolio on a teacher’s salary.
Now usually when I pick up a personal finance book that tells me what steps I need to take with my money, I expect the book to lay out a path similar to the one I already know well.
But Hallam’s Millionaire Teacher was refreshingly different. Sure, he talks about scrimping and saving. He talks about attitudes toward money and how to stay motivated over time.
But he also dives into the world of investing with the kindness, humor, and patience of a truly good teacher. He shares with you his strategy for investing for the future (and backs it up with evidence that it works!). He does all of this in a way that makes investing seem “do-able” instead of intimidating.
Hallam’s book made me realize that while I do a lot of reading (online, newspaper, magazines, and books), I still rely on our financial adviser at a local brokerage firm for much of our investing advice. We’ve known him for more than a decade (actually knew him before we ever entrusted him with our retirement funds), and I do believe he does try to do what he believes is best, but Millionaire Teacher made me realize that I need to make sure that I’m actually in the driver’s seat on the decisions made with my money, not just a passenger along for the ride.
I’m glad I got a chance to read Millionaire Teacher. It’s a great resource for someone who needs to learn more about investing and saving for the future. And any book that inspires you to learn more is always worth a read, in my opinion.
Note: While John Wiley & Sons did provide me with a review copy of this book, the opinions expressed here are 100 percent my own and were not edited or influenced by the publisher, author(s), or their affiliates. This post also contains affiliate links which help support this blog at no additional cost to you. Please read my full disclosure policy for more information.